Retail establishments have long needed capability to conduct real-time inventory management, and to adjust prices of objects offered for sale on the bases of demand, available supplies, promotional tenders, and the like. Prior retailing practices relied upon manual counting of available objects for periodic inventory checks and upon manual re-marking of prices as demand and available supplies and promotional tenders required.
Such practices were notoriously slow and expensive, and have been replaced to some extent by computerized management of such information based upon object data collected during check-out procedures.
Such computerized management commonly entails sensing identity of an object via product identity codes that are communicated from a point-of-sale terminal to a main computer for analysis against a database of all such objects for current pricing, adjustment of inventories of sold objects, and the like. However, such computerized management is delayed from the time of removal from a stock of objects to the time of check-out, and does not address changing the posted prices at which objects may be selected for purchase.
One innovation that proposes to improve such computerized management includes electronic shelving that replaces passive storage shelving and includes various electronic sensors and displays which are permanently wired into a main computer for determining when a supply of an object is depleted and for posting pricing and unit valuations, and the like, on built-in computer-controlled displays. Such innovative shelving requires power and data cabling, major expenditures for such shelving as capital expenditures, and has generally not been widely successful in retailing operations that operate on low profit margins. In addition, retailing operations desire to know about buying behavior of customers including such characteristics as time spent examining an object and then buying or not buying that object, since such behavior promotes analyses of appropriate real-time pricing, appeal of a display of selected objects, and the like.